Alder BioPharmaceuticals (ALDR) Given a $20.00 Price Target at Canaccord Genuity

Canaccord Genuity set a $20.00 price target on Alder BioPharmaceuticals (NASDAQ:ALDR) in a research report released on Monday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

ALDR has been the topic of a number of other reports. Cowen set a $23.00 target price on Alder BioPharmaceuticals and gave the stock a buy rating in a report on Monday, February 26th. Zacks Investment Research raised Alder BioPharmaceuticals from a sell rating to a hold rating in a report on Thursday, March 1st. Goldman Sachs initiated coverage on Alder BioPharmaceuticals in a report on Tuesday, April 24th. They set a neutral rating and a $17.00 target price on the stock. BidaskClub raised Alder BioPharmaceuticals from a sell rating to a hold rating in a report on Tuesday, April 3rd. Finally, Mizuho reissued a buy rating and set a $29.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, March 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $26.77.

Alder BioPharmaceuticals opened at $15.10 on Monday, MarketBeat.com reports. The company has a current ratio of 13.31, a quick ratio of 13.30 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.03 billion, a P/E ratio of -3.05 and a beta of 2.52. Alder BioPharmaceuticals has a 1-year low of $8.60 and a 1-year high of $20.00.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.50). equities analysts forecast that Alder BioPharmaceuticals will post -4.91 EPS for the current year.

In other Alder BioPharmaceuticals news, insider Jeffrey T. L. Smith sold 12,161 shares of the company’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $15.03, for a total value of $182,779.83. Following the transaction, the insider now directly owns 5,871 shares of the company’s stock, valued at approximately $88,241.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC grew its holdings in Alder BioPharmaceuticals by 14.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 27,614 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 3,405 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its holdings in Alder BioPharmaceuticals by 9.3% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 41,120 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 3,500 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Alder BioPharmaceuticals by 7.2% in the 1st quarter. New York State Common Retirement Fund now owns 68,400 shares of the biopharmaceutical company’s stock valued at $869,000 after buying an additional 4,600 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Alder BioPharmaceuticals by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 320,029 shares of the biopharmaceutical company’s stock valued at $3,664,000 after buying an additional 4,873 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Alder BioPharmaceuticals by 31.1% in the 1st quarter. Legal & General Group Plc now owns 25,547 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 6,060 shares in the last quarter.

Alder BioPharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

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